PANews reported on July 2 that according to The Block, Nasdaq-listed Bit Digital said on Tuesday that due to the exercise of the over-allotment option by the underwriters, an additional 11.25 million shares were purchased from the public offering last week, and the company raised an additional $21.4 million to support its Ethereum reserve plan. After the over-allotment option was fully exercised, the total issuance size of this transaction increased to 86.25 million shares, and the net amount of funds raised was approximately $162.9 million. Bit Digital will use the funds to purchase Ethereum and promote strategic transformation and gradually withdraw from the Bitcoin mining business. In June this year, the company, which is also involved in mining and staking businesses, announced that it would gradually shut down its Bitcoin mining business and focus on the Ethereum field. As of the end of the first quarter of 2025, Bit Digital has held 24,434.2 ETH (worth approximately $59.8 million). Its stock price rose nearly 4% after the announcement, and its market value rose to $594 million.